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- 1. Multiple Choice
The Social Security Tax rate is 6.2%.
true
false
- 2. Multiple Choice
Medicare Tax is 1.45% and deducted from ALL earnings
true
false
- 3. Multiple Choice
Group Insurance allows employees to gain medical coverage for MORE than an individual rate
true
false
- 4. Multiple Choice
Net pay is gross pay PLUS total deductions
true
false
- 5. Multiple Choice
Employers are required by law to withhold certain amount of pay for Federal Income Tax
true
false
- 6. Multiple Choice
semimonthly
24
26
12
10
- 7. Multiple Choice
monthly
12
24
26
10
- 8. Multiple Choice
biweekly
26
24
12
10
- 9. Multiple Choice
Married claims 1 allowance. Earns $285.19
26
33
29
28
- 10. Multiple Choice
Married no allowances. Earns $329.00
39
37
36
34
- 11. Multiple Choice
Gross pay: $23,760 Married, with 4 dependents, State income tax rate 6%. Calculate the State Income Tax.
Exemptions: Married $4,000, Each dependent $2,000.
$201.33
$705.60
$945.60
$105.60
- 12. Multiple ChoiceJim makes $65,000 per year, has exemptions of $10,000, what is the annual state income tax paid? State Tax Rate = 4%$2600$2000$2200$3200
- 13. Multiple ChoiceDenny earns $255.20 a week. The Social Security Tax rate is 6.2%, Medicare tax is 1.45% of gross pay. How much is withheld for each?SS=$12.47, M=$2.70SS=$15.82, M=$3.70SS=$13.97, M=$3.41SS=$15.82, M=$24.25
- 14. Multiple ChoiceCassandra has an insurance premium of $6800 a year. Her employer pays 75%. She receives her pay in 24 pay periods. What is her deduction per pay period?$5100$212.75$1700$70.83
- 15. Multiple ChoiceChad's monthly gross salary is $2540. He pays 6.2% SS Tax, 1.45% Medicare Tax, and $153.80 for health insurance. What is his monthly net pay?$2254.87$2191.89$2386.20I'm lost...help!
- 16. Multiple Choice
How much Medicare tax at 1.45% is deducted from $620 in gross wages?
$8.99
$10.99
$89.90
none of the above
- 17. Multiple ChoiceNet pay is:the amount earned over a lifetime.the amount earned before deductions or taxes are taken out.the amount received after deductions and taxes have been taken out.computed by multiplying the number of hours by the hourly rate of pay, then subtracting federal and state income taxes.
- Answer choicesTagsAnswer choicesTags